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India Cutting Iran Oil Imports to Zero in November
(Bloomberg) Debjit Chakraborty - India, the second-largest buyer of Iranian oil, isn't planning to buy any in November, joining South Korea and Japan, as U.S. sanctions hit. When Trump in May announced plans to re-impose sanctions on Iran's oil exports, the market estimated a cut of about 300,000 to 700,000 barrels a day, Trafigura's co-head of oil trading Ben Luckock said this week. However, the cut may be as much as 1.5 million barrels as the U.S. is "incredibly serious" about its measures, he said.